https://www.taxtmi.com/caselaws?id=401970 The ITAT Mumbai dismissed the Revenue's appeals, affirming that ESOP expenses are deductible under section 37(1) as employee compensation, not capital expenditure. Additionally, the Tribunal upheld that no interest disallowance under section 36(1)(iii) is warranted for A.Y. 2010-11 to A.Y. 2013-14, given the assessee's sufficient own funds, aligning with precedents from the Bombay HC. en-us Tue, 08 Dec 2020 00:00:00 +0530 Mon, 04 Nov 2024 12:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401970 The ITAT Mumbai dismissed the Revenue's appeals, affirming that ESOP expenses are deductible under section 37(1) as employee compensation, not capital expenditure. Additionally, the Tribunal upheld that no interest disallowance under section 36(1)(iii) is warranted for A.Y. 2010-11 to A.Y. 2013-14, given the assessee's sufficient own funds, aligning with precedents from the Bombay HC. Case-Laws Income Tax Tue, 08 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401970